Top answers

What's the difference between a 10-marker and a 15-marker and how would I go about answering these?

These essay style questions create the bulk of your micro/macro studies, and it's important to know how to answer them effectively and efficiently. With the 10 mark style questions, the examiner is looking f...
BD
Answered by Balraj D. • Economics tutor
40281 Views

What is the law of demand?

The law of demand states that as the price of a good or service rises the quantity demanded will subsequently decrease. Opposingly, lower prices cause an increase in quantity demanded.
NH
Answered by Nadia H. • Economics tutor
3748 Views

What are the ways to combat high inflation?

Demand pull inflation: 1. Contractionary monetary policy (Keynesian) a. One positive: Economy moves closer to full employment level of output, central bank can adjust interest rates periodically, it is easil...
TP
Answered by Toni P. • Economics tutor
4894 Views

How can I achieve a top grade?

Economics is all about models involving assumptions and diagrams. So whenever you're answering a question, you must identify the assumptions relating to it, draw a diagram illustrating your argument and give...
SY
Answered by Selma Y. • Economics tutor
3428 Views

Explain the meaning of the law of demand, and using examples and diagrams, distinguish between movements along and shifts of the demand curve.

Define demand as the willingness and ability of a consumer to pay a certain price for a good or service at a specific period in time. Explain the meaning of law of demand, where, ceteris paribus, as price in...
RS
Answered by Raya S. • Economics tutor
14843 Views